Homes listed on Thursday sold for an average of
Homes listed on Thursday sell the fastest, with the typical Thursday-listed home going under contract 5 days faster than homes listed on Sunday. Homes listed on Sunday take the longest to find a buyer. Wednesday and Friday-listed homes were second-best, with the typical home finding a buyer 4 days faster.
Why does Thursday perform so well? Most homebuyers have the greatest availability to see homes for sale during the weekend. Homes listed on Thursday are fresh in buyers' minds when they are planning their weekend.
"Psychologists have found that people tend to remember the last information they saw the best," said Redfin chief economist
If a seller lists on Friday it might be too late for a buyer to find time to see the home. If they list earlier in the week, newer listings that hit the market just as they're making weekend plans might grab buyers' attention instead. Thursday just hits that perfect sweet spot.
From 2017 to early 2018, the market heated up significantly, with homes selling at their fastest pace on record last June (median 35 days on market) and prices up nearly 10 percent. While Thursday retained its speed and price advantage, the day of the week homes were listed mattered less in spring 2018's hotter seller's market. When homebuyer demand far outpaces the supply of homes and nearly every home sells quickly and at or above list price, factors like which day a home is listed are less important. However, the market this year is not as easy for sellers—the median time on market has shot up to 59 days as of February, bidding wars have become much more rare and home prices are up less than 1 percent. If sellers want to maximize their chances of selling quickly and for the most money, it will become more important to pay attention to the little details.
To view the full report, complete with charts and methodology, please visit: https://www.redfin.com/blog/thursday-the-best-day-to-list-your-home-for-sale/.
Redfin (www.redfin.com) is the technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. The company has closed more than
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the
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